Most money managers don’t beat their benchmarks.  Now this is due to a number of reasons: heard mentality, fees, limitations by prospectus, it’s just plain difficult.  However benchmarks are just a frame of reference for performance in an effort to draw in potential investors.  So when a manager struggles to beat an index benchmark year after year, their sales team has their work cut out for them.  Or.. just change the data used to illustrate your performance in relation to the rest of the market.  In an effort to shed a little truth on the hedge fund world, (full article can be found here: ZeroHedge) has found a bit of a discrepancy between Tilson’s T2 Partners performance letters, primarily in the timeframe of performance used.

Where would you rather put your money?

 

 

 

 

 

Tilson Down 0.9% In February, Rebenchmarks Performance Index To Appear Better Than S&P | ZeroHedge.